Prediction Markets => Outside Work => Topic started by: MattGoldenberg on June 08, 2016, 03:01:23 am
This is an interesting idea. I will summarize.
Futarchy is often criticized because it depends on a metric like GDP that is optimized for. The people who calculate what the GDP is have a lot of power in such a system.
This paper introduces a new metric as an alternative to GDP: each citizen chooses a number between 0 and 1, and we take the average.
If the citizen is completely unsatisfied with the previous year, they choose 0. If they are completely satisfied, they choose 1.
My worry with such a system is that counting votes is an unsolved problem. There are 300,000,000 Americans.
Every system I have examined for collecting one vote per citizen has flaws in it to make cheating possible.
The problem is already pretty solved in most democratic nations with voter registration. It's a centralized solution but it certainly works pretty well
Very similar to this post from 2014 (http://forum.bitcoinhivemind.com/index.php/topic,145.0.html).
Doesn't answer the question I asked, however.